Gold Price - Where is it heading?

[Dr Doom]

Cool, thanks DOOM...been watching EQI for an entry point and the POG isn't setting things up very well today.

Cheers,

Yes, so have I, looks like it's trying to form a daily double bottom from the Jan low, might wait a little bit longer though, see where it stabilises on the weekly chart? $1.50 looks like a solid base. Thinly traded too

 

[arsnove]

The current wave count is wave 4 and pending for wave 5 to be unfold. If the price hit 678.5, you will witness a big jump in price going beyond 740. If you are using Elliot Wave then you will know what I am talking about. I am trying to copy and paste my Metastock chart into this chat forum but without success. I am in the mid of updating my website and once it's completed I will keep you posted. Are you using technical analysis?

andy.chew@wealthraider.com

 

[Dr Doom]

I think chickens 'capper' is hard at work with the pog, won't let it get past that magical $675, for they probably know it is a technical 'break out point' and indicator to go long again. A bit of blood letting for the market today & the gold stocks didn't escape, only widening the gap between a gold price that hasn't broken down and gold stocks that have. Which one is going to play catch up?. A big night tonight for all markets for if the Dow corrects for whatever reason it may give further momentum to today's sell-off?. Still waiting to get back in.

 

[bean]

Hopefully golden opportunities will come to those who wait

 

[Kauri]

Possibly way off track, but how I see gold panning out currently. Untill it breaks/fails at (B) or (2) I guess anything is possible.

 

[Naif]

hello ppl..

i expect that the gold will not go below 640 , and i expect that we will see the gold in march reach 700 ..

if you look to the cot chart, you will see that the commercials and large speculators have increased their long positions for the last two weeks ..

good luck

 

[Jadefox]

"Just looked at the screen. Is this a bear squeeze or has a nuke gone off somewhere??"

- from Kitco Gold forum

 

[Dr Doom]

Lift off maybe, or too high too fast?

 

[Sean K]

Lift off maybe, or too high too fast?

This certainly confirms $660 ish as very good support. Related to LHG, I'd expect it to bounce well off it's $3.25 support level as well. Maybe back to $3.40 ish, which looks to be some short term resistance.

 

[CanOz]

This certainly confirms $660 ish as very good support. Related to LHG, I'd expect it to bounce well off it's $3.25 support level as well. Maybe back to $3.40 ish, which looks to be some short term resistance.

This should put EQI up through 1.56 today. Just curious as to why LHG is talked about, its bloody expensive as a share price with a forward PE of like 55? Thier operation is expensive and is affected by diesel prices etc....

Cheers,

 

[Sean K]

This should put EQI up through 1.56 today. Just curious as to why LHG is talked about, its bloody expensive as a share price with a forward PE of like 55? Thier operation is expensive and is affected by diesel prices etc....

Cheers,

I've mentioned it because it seems to follow POG. Yes, crazy pe there, but I have various pe's of this. Big Charts gives it a pe of 400 ish.

Sorry for mentioning a specific stock here, it should have gone in it's own thread.

Bad kennas! :rocketwho

 

[CanOz]

I've mentioned it because it seems to follow POG. Yes, crazy pe there, but I have various pe's of this. Big Charts gives it a pe of 400 ish.

Sorry for mentioning a specific stock here, it should have gone in it's own thread.

Bad kennas! :rocketwho

You should be able to mention gold stocks surely...what about GOLD, is tracks the POG very well.

Cheers,

 

[Sean K]

You should be able to mention gold stocks surely...
Cheers,

Well, it could be seen to be ramping. I own LHG, so perhaps I was.

what about GOLD, is tracks the POG very well.

Gold!

 

[CanOz]

Well, it could be seen to be ramping. I own LHG, so perhaps I was.


Gold!

Seriously, type in GOLD on bigcharts or etrade...its a tracking stock.

Cheers,

 

[Jadefox]

See what happened to the shorts in the gold market last night:

http://www.youtube.com/watch?v=E-zlQ-Hui44

(courtesy - Jim Sinclair's website)

 

[chops_a_must]

I think chickens 'capper' is hard at work with the pog, won't let it get past that magical $675, for they probably know it is a technical 'break out point' and indicator to go long again. A bit of blood letting for the market today & the gold stocks didn't escape, only widening the gap between a gold price that hasn't broken down and gold stocks that have. Which one is going to play catch up?. A big night tonight for all markets for if the Dow corrects for whatever reason it may give further momentum to today's sell-off?. Still waiting to get back in.

Oh Mr. Doom. I hope you didn't miss out on this latest move, as I have benefitted muchly from your commentary here.

Sincerely,
Chops.

 

[Sean K]

The Iranian nuke thing looks to be pushing POG now. What we have seen in the past few weeks is an alignment of the three main factors supporting POG appreciation: $US weakness, POO increase, and geopolitical instability.

No more resistance until all time highs IMO. Well, maybe a tiny bit around $700, but will probably just pause to wave as it goes past. Obviously, just a probability.

Unhedged goldies should do very well.

 

[chops_a_must]

Unhedged goldies should do very well.

Any favourite pics Kennas?

I have my eyes on NEM and TRY. I would like to see NEM go strongly through 6.20 before I get in though. Whereas TRY may break out from its tight trading range on an increasing gold price.

 

[Sean K]

Any favourite pics Kennas?

I have my eyes on NEM and TRY. I would like to see NEM go strongly through 6.20 before I get in though. Whereas TRY may break out from its tight trading range on an increasing gold price.

Not following TRY but have NEM on the radar. See new NEM thread.

Holding a few gold stocks, but none I could say would be a standout pick. BSG, NCM, LHG, LRL, KMN, IRN. See threads for more info. Concerned about NCM at the moment. Further downgrades will smash it, but I'm still holding a few for speccie takeover possibility.

 

[GreatPig]

You could also just go for the gold itself, either with the GOLD stock or the Goldcorp call warrant ZAUWBA.

I'm holding a moderate parcel of the latter, and will probably increase it if the price starts heading up further. The spread and holding costs are a little rough though.

GP